Our vision for Chip is to build wealth for this generation. We want to enable our valued users to strive for financial greatness, to seek to build their long-term wealth, all within one simple app.
I’m delighted to introduce to you our new membership plans, and the next evolution of our vision for Chip. Each of our paid membership plans will now be a fixed price. One clear price, encompassing all our benefits. All you have to do is choose the membership tier that’s right for you.
These new membership plans will be released over the coming months. Firstly, I would like to make clear that the basic plan of Chip is still free to access.
On ChipX however, one of the fundamental changes from the Chip Basic plan is the complete removal of platform fees.
We do not believe percentage fees are transparent, and that they penalise users for building long-term wealth. They can seem immaterial at a glance - this is not the case over years of long-term wealth-building. We want to change this.
This change means that you can invest as much as you want, and the fee will remain fixed. In order to enable this, the membership fee will rise, in keeping with the upgrades and improvements being made to the service, as well as being in line with the current market costs.
We will also be introducing further plans from 2023, offering an enhanced wealth-building experience: More tax wrappers; more funds; managed portfolios; even a Private Banking plan for our elite users. As always, we will be working closely with our communities to build the wealth-building platform that they want to see, that helps them reach their goals. There will be more information to come in the coming weeks. Until then, the details of the changes can be found below.
Our vision is to offer a wealth management platform with a simple, clear and understandable model, with unlimited access to the features that we’ll be rolling out.
ChipX is the future of Chip: An ISA with zero platform fees; leading savings accounts; investment funds managed by the biggest fund managers on the planet; access to our groundbreaking Alternative Assets platform, democratising access to asset classes that have previously been unimaginable; and of course, our renowned savings tools. All working in harmony to build your wealth, without having to lift a finger.
Thank you for being a part of our journey.